RDP 2016-07: The Efficiency of Central Clearing: A Segmented Markets Approach
Equation (22)
c
m
=
A
m
+
(
1
−
λ
m
)
f
m
s
m
+
λ
m
[
M
(
y
m
)
y
m
+
(
1
−
M
(
y
m
)
)
f
m
−
D
(
y
m
)
min
(
Z
,
[
f
m
−
y
m
]
)
]
s
m
−
λ
m
D
F
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